7. A distribution may be taxable if the amount exceeds:
a) Current partnership earnings
b) Adjusted basis of partnership interest immediately before the distribution
c) Partners adjusted basis at the beginning of the year
d) Partners original contribution to the partnership
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
(Save $1 )
One time Pay
(Save $5 )
Billed Monthly
*First month only
You can see the logs in the Dashboard.
